FSM Wealth Advisors LLC lessened its stake in shares of Boston Scientific Co. (NYSE:BSX – Free Report) by 19.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,102 shares of the medical equipment provider’s stock after selling 1,493 shares during the period. FSM Wealth Advisors LLC’s holdings in Boston Scientific were worth $320,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its stake in Boston Scientific by 112,306.1% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 18,661,660 shares of the medical equipment provider’s stock worth $863,475,000 after buying an additional 18,645,058 shares in the last quarter. Norges Bank bought a new position in Boston Scientific in the fourth quarter worth approximately $632,520,000. Steadfast Capital Management LP bought a new position in Boston Scientific in the fourth quarter worth approximately $138,969,000. Arrowstreet Capital Limited Partnership increased its position in shares of Boston Scientific by 65.9% during the first quarter. Arrowstreet Capital Limited Partnership now owns 5,430,814 shares of the medical equipment provider’s stock worth $240,531,000 after purchasing an additional 2,157,849 shares in the last quarter. Finally, Great Lakes Advisors LLC increased its position in shares of Boston Scientific by 173.4% during the first quarter. Great Lakes Advisors LLC now owns 3,158,722 shares of the medical equipment provider’s stock worth $158,031,000 after purchasing an additional 2,003,259 shares in the last quarter. Institutional investors own 89.11% of the company’s stock.
Insider Buying and Selling
In other Boston Scientific news, SVP Vance R. Brown sold 15,750 shares of the firm’s stock in a transaction that occurred on Friday, August 25th. The shares were sold at an average price of $50.52, for a total value of $795,690.00. Following the completion of the transaction, the senior vice president now owns 28,578 shares of the company’s stock, valued at approximately $1,443,760.56. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Michael F. Mahoney sold 113,355 shares of the firm’s stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $53.91, for a total value of $6,110,968.05. Following the sale, the chief executive officer now directly owns 1,498,922 shares in the company, valued at approximately $80,806,885.02. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Vance R. Brown sold 15,750 shares of the firm’s stock in a transaction on Friday, August 25th. The shares were sold at an average price of $50.52, for a total transaction of $795,690.00. Following the completion of the sale, the senior vice president now owns 28,578 shares in the company, valued at $1,443,760.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 208,465 shares of company stock valued at $11,053,789. Company insiders own 0.71% of the company’s stock.
Boston Scientific Price Performance
Boston Scientific (NYSE:BSX – Get Free Report) last posted its quarterly earnings results on Thursday, July 27th. The medical equipment provider reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.04. The business had revenue of $3.60 billion during the quarter, compared to analysts’ expectations of $3.50 billion. Boston Scientific had a net margin of 6.81% and a return on equity of 15.16%. The business’s revenue for the quarter was up 10.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.44 EPS. Equities research analysts expect that Boston Scientific Co. will post 1.99 EPS for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on BSX. Robert W. Baird began coverage on Boston Scientific in a research report on Tuesday, July 18th. They set an “outperform” rating and a $59.00 price target on the stock. Oppenheimer upped their price target on Boston Scientific from $58.00 to $59.00 in a research report on Friday, July 28th. 22nd Century Group reaffirmed an “initiates” rating on shares of Boston Scientific in a research report on Friday, June 30th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $58.00 price target on shares of Boston Scientific in a research report on Monday, August 28th. Finally, TheStreet raised Boston Scientific from a “c+” rating to a “b” rating in a research report on Tuesday, May 30th. Two equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $58.50.
Boston Scientific Company Profile
Boston Scientific Corporation develops, manufactures, and markets medical devices for use in various interventional medical specialties worldwide. It operates through MedSurg and Cardiovascular segments. The company offers devices to diagnose and treat gastrointestinal and pulmonary conditions; devices to treat various urological and pelvic conditions; implantable cardioverter and implantable cardiac resynchronization therapy defibrillators; pacemakers and implantable cardiac resynchronization therapy pacemakers; and remote patient management systems.
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